PSEG reaffirms FY15 EPS view $2.75-$2.95, consensus $2.86PSEG said that its five-year capital spending program of $13B is expected to yield a third year of sustained growth in operating earnings. Speaking at the company's Annual 2015 Investor Conference in New York, Ralph Izzo, PSEG chairman and CEO, told the financial community that the company expects to spend about $13B in capital investments through 2019, primarily on transmission and other critical infrastructure projects by its electric and gas utility, PSE&G. The utility's capital plan of $11B includes PJM-mandated transmission upgrades to relieve projected system overloads and maintain reliability for millions of customers. It also now includes $1.2B in upgrades, approved in May 2014, to make electric and gas systems more resilient and "Energy Strong" in the wake of severe storms.

PSEG has reached favorable entry point, says ArgusAfter PSEG announced that its 2014 revenue rose 9.2%, Argus expects the company to continue to benefit from what the firm sees as its strong cost controls, solid operating cash flow, growing financial strength, and favorable regulatory environment. The firm keeps a $47 price target and Buy rating on the shares.

PSE&G announces 5-year $1.6B proposal to replace gas infrastructurePublic Service Electric and Gas Company, New Jersey's largest utility, announced a proposal to invest $1.6B over the next 5 years to proactively modernize its gas systems – supporting a safe, clean, reliable gas system well into the future. The utility requested the funding, about $320M per year, in a filing with the New Jersey Board of Public Utilities. PSE&G's Gas System Modernization Program would include replacing an average of approximately 160 miles of cast iron and unprotected steel gas mains, and about 11,000 unprotected steel service lines to homes and businesses per year, over five years. The mains and service lines would be replaced with strong, durable plastic piping, which is much less likely to have leaks and release methane gas. The new elevated pressure systems also enable the installation of excess flow valves that automatically shut off gas flow if a service line is damaged, and better support the use of high-efficiency appliances.

Dynegy reports Q4 net loss $104M vs. $91M last yearDynegy reported Q4 consolidated Adjusted EBITDA of $67M, compared to $63M last year. Dynegy updated its 2015 guidance target using February 10 price curves. It said, "Given the later than expected acquisition closing dates, Dynegy has revised its 2015 guidance targets to a range of $825 million to $1,025 million in consolidated full year Adjusted EBITDA and $100 million to $300 million in Free Cash Flow, prior to acquisition-related costs and discretionary capital expenditures. Whereas prior guidance estimates assumed a January 1 close, new guidance estimates assume an April 1 close for the pending Duke Midwest, EquiPower and Brayton Point transactions."